In my previous article it we have seen that the Moeda Loyalty Points ( MDA ) formed a Cup & Handle pattern and was expected to take a very powerful bull move from the handle of the Cup, and after having some sideways trend the price action moved up and we have seen 102% gains produced by MDA.
Now this time the MDA has formed another bullish Gartley pattern which shows the bullish continuation tendency of the price action. After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.618 to 0.786 Fibonacci as perfectly required for Gartley pattern and now the price action is moving in potential reversal zone of this Gartley pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg, but after this bullish divergence if the candles sticks will be closed above the 0.786 Fibonacci levels then it can also lead to the long term bullish move.
Indicators Are Turning Bullish:
Priceline is taking bounce from lower bands of Bollinger bands.
Stochastic is likely to give bull cross soon from the oversold zone.
MACD is turning bullish.
Indicators Are Turning Bullish:
Priceline is taking bounce from lower bands of Bollinger bands.
Stochastic is likely to give bull cross soon from the oversold zone.
MACD is turning bullish.
Buying And Sell Targets:
The buying and sell targets according to harmonic gartley pattern should be:
Buy between: 0.00008787 to 0.00007699 sats
Sell between: 0.00009643 to 0.00011700 sats
Stop Loss:
The potential reversal zone area which is up to 0.00007699 sats can be used as stop loss in case of complete candle sticks closes below this level.